AccuShares Investment Management has listed two new exchange-traded funds (ETFs), AccuShares Spot CBOE VIX ETF Up Class Shares (VXUP) and Down Class Shares (VXDN), on The Nasdaq Stock Market.
The funds will track the CBOE Volatility Index (VIX).
"We are delighted to partner with Nasdaq as we launch our first funds for the ETF market," says Jack Fonss, Chief Executive Officer and Co-Founder of AccuShares. "The reach and technology capabilities that Nasdaq offers will help us deliver on our goal of democratising 'spot' exposure for ETF investors."
With VXUP, investors can seek to capitalise on increases in the VIX, and with VXDN, can seek to capitalise on decreases in the VIX. Unlike other exchange-traded VIX funds, the AccuShares Spot CBOE VIX ETF provides straightforward tax reporting through Form 1099s. Its transparent pricing and product architecture provide predictable cost of ownership, eliminating the asset complexities and term structure associated with other exchange-traded offerings.
"We are thrilled to list the first AccuShares ETFs and we appreciate AccuShares' confidence in choosing the Nasdaq marketplace to list and trade ETFs," says Jeff McCarthy, Vice President, Head of US ETP Listings at Nasdaq. "Nasdaq generates opportunities for issuers to access new markets and deliver new concepts that change the way the industry develops, manages and applies ETFs. The new innovative funds, VXUP and VXDN, offer investors unique capabilities to access spot indices."